Cash Converters Personal Loan

Borrow up to $2,000 from one of Australia's most established short term lenders.

If you're in need of financing and want to be sure you're borrowing from an established lender, you might want to consider a personal loan from Cash Converters. It's been in the lending business since 1984, and now Cash Converters is offering a personal loan that you can conveniently apply for online.

Whether you need funds to cover an unexpected expense, you didn't budget well enough to see you through the month or if you need to make a large purchase, Cash Converters has a loan that you might be eligible for.

Min Loan Amount$400
Max. Loan Amount$2,000
Loan TermUp to 12 months
Loan SecurityUnsecured
Arrears Fee$33
Turnaround Time24 - 48 hours
Costs20% establishment fee + 4% monthly fee
RequirementsYou must be over 18 and have a steady income of at least $300 per week
Available to Centrelink borrowersYes


  • Fast turnaround
  • 12 month loan terms
  • Bad credit borrowers considered


  • 20% establishment fee
  • 4% monthly fee
  • Dishonour fee of $33
  • 18 years over
  • Reside in Australia
  • Earn over $300 per week

Main points to consider about the Cash Converters Personal Loan

This loan is available for a longer term than what is on offer with similar products. You can apply for up to $2,000 and repay it over a period of up to 12 months. You'll need to pay a fee to establish the loan and also ongoing monthly costs.

Features of the Personal Loan from Cash Converters

  • Fast application. The online application process will be assessed within 24 business hours.
  • Loan amount. You can apply for a loan between $400 and $2,000.
  • Quick turnaround. After your loan is approved your funds will be available in your account during the next business day.
  • How long you have to repay it. Repayment terms vary depending on your individual loan contract, but your loan will be repaid over a period of up to 12 months.

What fees apply?

Cash Converters Personal Loans come with a 20% establishment fee + 4% monthly fee. The longer you take to repay the loan, the more you'll end up paying in monthly fees. If you fail to make your repayments on time, a dishonour fee of $33 applies. There are no additional daily fees and no rescheduling fees.

Are you eligible for a Cash Converters Personal Loan?

Each loan application is assessed by a representative from Cash Converters, who will establish your ability to repay the loan. The minimum eligibility criteria are that you are over the age of 18 and reside in Australia, whereas everything else is judged on a case-by-case basis.

  • If you receive Centrelink payments: You can apply if you receive Centrelink payments, but what you borrow may be limited so that your repayments in any period do not exceed 25% of your gross income. This includes repayments to other lenders as well as the new loan you're applying for from Cash Converters.
  • If you're in a Part 9 Debt Agreement: You aren't eligible for a Cash Converters Personal Loan. However, if you have been successfully discharged from a Part 9 Debt Agreement you are able to apply.
  • If you're not an Australian resident: You're able to apply for this product if you're a resident or a 457 Visa holder. You aren't eligible for the Cash Converters Personal Loan if you aren't a resident, but you are eligible to apply for a Cash Converters Cash Advance in-store.
  • If you have bad credit: Cash Converters will consider your current financial situation when you apply, but are generally more lenient than the banks when it comes to bad credit. If they see you will be able to manage your loan, your application will be considered.
  • If you're a casual employee: You need to earn at least $300 per week in order to be assessed, but you can still apply for a Cash Converters loan.

How you can apply

You can apply for a Cash Converters Personal Loan in-store or online. Applying is easy and the form shouldn't take longer than five minutes. To be eligible, you need to be over the age of 18 and reside in Australia. Have the following on hand to complete your application:

  • Your bank account history for the last 90 days where your income is deposited into
  • A copy of your Medicare card
  • If you receive Centrelink payments, you'll need a current income statement.

Once you've filled out the application form, Cash Converters will check the information and see if you fit their lending criteria. If you're approved, you'll be sent an electronic loan contract, and once you've signed it your loan amount will be transferred to you within 24 - 48 hours.

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97 Responses

  1. Default Gravatar
    KylieDecember 16, 2017

    Hi if I have received a contract and agreed does it mean I will be approved

    • Staff
      JhezelynDecember 22, 2017Staff

      Hi Kylie,

      Thanks for your comment.

      You’ll be sent an electronic loan contract when your approved. Once you’ve signed it, your loan amount will be transferred to you within 24 – 48 hours.

      Kind Regards,

  2. Default Gravatar
    MeganNovember 11, 2017

    Hi i have a 12 mth loan .I changed my bank and 2 of my direct debits got sent back so i started paying it myself every week through bpay but have ended up with a large number of $33 dishonour fees because it doesnt show up on cashies computers that i have been paying it so iam still now paying dishonour fees which i have not dishonored what can i do for it is hundreds

    • Staff
      JoanneNovember 11, 2017Staff

      Hi Megan,

      Thanks for reaching out.

      I’m so sorry that this happened. For this issue to get resolved you may need to reach out to Cash Converters directly. It would be best if you bring this to their attention and perhaps present to them proof that you have diligently been making your payments and advise them about the status of the 2 payments that bounced back. Hope all goes well.


  3. Staff
    LiezlApril 21, 2017Staff

    Hi Nathaniel,

    Thanks for your question. For a $400 loan with a 12-month term, average weekly repayment is $13. The total repayment amount for this loan is $672, based on Cash Converters’ loan calculator.


  4. Default Gravatar
    RobbieFebruary 10, 2017

    I want to borrow 400 how much will my repayments be for a fortnightly and if i want to pay it of fast what is the total repayment i owe

    • Staff
      LouFebruary 10, 2017Staff

      Hi Robbie,

      Thanks for your question.

      Using the loan calculator on Cash Converters’s website, a $400 loan with 12 months repayment period will have a weekly repayment of $13. If you would like to pay your loan earlier, you may be entitled to a discount. Please note that we do not represent Cash Converters so we cannot provide complete details of this discount. You may want to directly get in touch with them to inquire.

      If you want to compare other short-term loan, you can check and compare your options on this page.


  5. Default Gravatar
    JulieJanuary 2, 2017

    Just interested in finding out if your establishment fee can come out of your loan amount and how long if you apply online dose it take to find out if you have been approved.

    • Staff
      LouJanuary 2, 2017Staff

      Hi Julie,

      Thanks for your question.

      With Cash Converters, the establishment fee is deducted from your loan amount. Say, your loan amount is $5,000, you’ll only get $4,600 credited to your account.

      The sooner you completed the required documentation, the sooner you’ll be approved. Depending on who you bank with and if you are approved, you should be able to receive the borrowed funds in your account within 24 hours of submitting your complete application.


  6. Default Gravatar
    JacintaDecember 12, 2016

    Hi I was wondering how much a fight night do you pay for a $600 loan?

    • Staff
      LouDecember 12, 2016Staff

      Hi Jacinta,

      Thanks for your question.

      For a $600 loan with a 12-month term, fortnightly payment is about $38. You can directly visit Cash Converters website and use their loan calculator to know your repayments for a particular loan amount.

      You may also want to compare other short term loans on this page.


  7. Default Gravatar
    AlbertNovember 18, 2016

    What would be for monthly repayment for borrowing $2000.00 and can I get a plan that is longer than 12 months. Thank You

    • Staff
      LouNovember 18, 2016Staff

      Hi Albert,

      Thanks for your question.

      If you are planning to apply for Cash Converters Personal Loan for $2,000 and assuming you get a 12-month term, your weekly repayment will be $65. This is using the repayment calculator on their website.

      Unfortunately, Cash Converters only offer 12-month loan term.


  8. Default Gravatar
    KiahNovember 10, 2016

    I applied for a loan yesterday and it stated that I was “provisionally approved” and haven’t heard anything since, how long does it take for them to approve me?

    • Staff
      HaroldNovember 10, 2016Staff

      Hello Kiah,

      Thank you for your question.

      Please note that is a financial comparison and information service and does not represent any loan company.

      Since you applied already, whether online or in-store, your application will be assessed within 24 business hours after all necessary documents are received.

      I hope this has helped.


  9. Default Gravatar
    leonieNovember 2, 2016

    Hi I was wondering if im eligible for another $600 loan thank you

    • Staff
      MayNovember 2, 2016Staff

      Hi Leonie,

      Thank you for your question.

      If you wish to apply for another loan with Cash Converters, please contact them directly to process your application.


  10. Default Gravatar
    BenOctober 27, 2016

    Can I borrow another 1500 to pay off my bills

    • Staff
      LouOctober 27, 2016Staff

      Hi Ben,

      Thanks for your question.

      If you already previously borrowed from Cash Converters, they follow strict guidelines when it comes to assessing every loan and this includes strict limits on the number of loans a customer can have at one time. If you’d like to know if you are eligible for another loan, you can contact the store that approved your current loan. If you applied online, you may call 1800 170 086.


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